If you are thinking of starting up your own business it’s not enough to have a really good business idea, whether this is for products to sell or for services that can be delivered. Such a business idea is essential and a good beginning, but an idea is not enough to build a successful future for your business.
It may be that you have particular skills in making something- say, furniture or widgets, and after making several for friends and family you think you have evidence that there is a market for these products. But have you really done any work on who else is making these products and at what price ? Or worked out costs if you are no longer using cheap offcuts ? [Read more...]